A mortgage is a security interest in the property you are purchasing, ensuring repayment of the related loan. This security interest is discharged once the principal and interest are fully paid, as outlined in the mortgage document. Essentially, the property serves as collateral for the loan, providing the lender with a claim to the property if you default. In Quebec, mortgages are referred to as “hypothecs.” Understanding these terms is crucial for navigating the home-buying process and managing your financial obligations effectively.

*The information provided is for educational purposes only and should not be considered legal advice. For specific legal concerns or questions related to your mortgage, it is always best to consult with a qualified legal professional.*

Mortgage Education

  • Total Debt Service Ratio (TDS)

    The percentage of gross income allocated for payments of principal, interest, taxes, and heat (P.I.T.H.), along with other debt obligations, [...]

  • Title Insurance

    Title insurance protects property owners and lenders from financial loss due to defects in the title of real property. These [...]

  • Understanding Mortgage Interest in Canada

    Navigating the world of mortgages can be complex, especially when it comes to understanding how interest rates impact your home [...]

  • How To Get a Mortgage

    Getting a mortgage is a significant step toward homeownership. However, the process can seem complex and overwhelming. This guide will [...]

  • Mortgage Payment Deferrals

    Understanding Mortgage Payment Deferrals in Canada In times of financial hardship, homeowners may find it challenging to keep up with [...]